Moscow, Jun 10 (IANS): Ukraine has launched a "counteroffensive" but has "failed" to accomplish its goals, Russian President Vladimir Putin has said.

"First, it can be stated with absolute certainty that this offensive has begun. The use of strategic reserves of the Ukrainian forces proves it. Second, in no areas of combat the Ukrainian troops have achieved their tasks. This is an absolutely obvious thing," Putin told reporters in Russia's Sochi on Friday, Xinhua news agency reported.

There were "significant losses" of Ukrainian troops in the past five days of "very intense fighting", but Kiev still preserves the offensive potential, Putin was quoted as saying in a Kremlin press release.

He praised the Russian military and weaponry in actions against the Ukrainian counteroffensive.

"Yes, we still do not have enough of these modern weapons but the defence industry, the country's military-industrial complex is developing rapidly. I am sure that all the tasks facing the defence industry will of course be solved. There is an intensive increase in the production of modern types of weapons," he said.